"United Mining and Chemical Company" | News | NABU is involved in falsification of facts about UMCC and tries to paralyze the company's operation

NABU is involved in falsification of facts about UMCC and tries to paralyze the company's operation
NABU is involved in falsification of facts about UMCC and tries to paralyze the company's operation

09.02.2017

NABU is attempting to falsify the charges against detained managers of PJSC United Mining and Chemical Company. The Anti-corruption Bureau is trying so hard to 'save face' in yet another failing case that it is ready for any manipulations and procedural violations. Moreover, it is even trying to paralyze the operation of the company. The level of absurdity has already gone over the top.
NABU wants to manipulate the public opinion by publishing some unclear audio recordings on its website. Certain parts of private conversations are taken out and edited. Did the NABU representatives obtain permission for such publication from the procedural chief prosecutor of SAPO? Did they obtain permission from the SBU, which is the only agency that has the right to wiretapping by law? Did the SBU wiretap this at all? All these questions will be set to the corresponding law enforcement bodies and the court.
NABU has also once again proven its incompetence and its purely PR objectives. Privatization of such strategic enterprise as UMCC should have taken place at an open tender, as was approved by the government and the president. Our company is doing its best for successful privatization and is adopting international standards so that the government would be able to get a good price for it. In particular, a highly respected company from the Top 4 in the world KPMG performed UMCC’s audit in 2015. Also international company Grant Thornton was involved in the company’s asset appraisal. The company thus received independent audit and appraisal of its assets.
Also, it is not UMCC, but the State Property Fund of Ukraine that decides on the conditions of the company’s privatization. NABU is well aware of the fact of responsibility of this agency for the sale of state-owned assets. Meanwhile, the world’s largest companies are showing interest in the largest in Ukraine titanium producer. The competition for the asset was expected among them, but NABU is repeating the situation with disruption of privatization of Odesa Port Plant. Back then, NABU and SAPO created an artificial scandal and scared away all investors. Instead of the starting price at US $550 million, the state got zero and the plant was brought to the brink of bankruptcy.
Other accusations of NABU against UMCC managers as just as absurd. After the state regained control over UMCC’s plants in 2014, the new team of managers continued to increase sales and financial indicators of the company every year. The company’s net profit in 2014 was only UAH 530,000, while in 2015 it increased to UAH 630.8 mn and in 2016 – reached UAH 855.3 mn. Taxes and other mandatory payments to the budget in 2014 amounted to only UAH 16 mn, in 2015 – UAH 360.3 mn and in 2016 they increased to UAH 779.3 mn.
The accusations of alleged intentions of the detained ‘on possible supplies of products to temporarily occupied territories’ – is another example of manipulations by NABU. We are not responsible for further actions of the Ukrainian contractors who want to buy our products. Following this logic, if Mr. Sytnyk sold his car and the new owner got in a car crash on it, the responsibility should be borne by the head of NABU… We would like to reiterate that all operations of UMCC are continuously controlled by the corresponding government agencies.
NABU’s leadership is trying to create conditions, using illegal methods, to persecute acting Chair of the Board of UMCC Ruslan Zhurylo. We already saw falsified ‘proof’ in court presented by NABU and SAPO, when one UMCC manager was blatantly ‘ascribed’ ownership of some apartment abroad, although there is an office center at the specified address, and when Zhurylo turned out to be ‘married’ again to a woman he’s been divorced with for 5 years and who has long moved to the U.S. and also ‘ascribed’ property.
There is a clear ‘trace’ of the so-called Georgian Group, which in NABU is represented by the 1st deputy director Gizo Uglava, behind execution of the order to bring down UMCC’s value. NABU is also trying to paralyze operation of the company, by, among other things, prohibiting shipments of products. The question, is, however, who wants to privatize the state-owned enterprise for cheap? Or, at least, who wants to establish control over it?